In celebration of the 50th anniversary of the Mustang Cobra Jet, Ford Performance unveiled its new limited production, drag racing special Cobra Jet at the Woodward Dream Cruise, last week in Detroit.

Ford described it as the fastest production Mustang on the drag strip, capable of quarter-mile times in the mid-eight-second range trapping at 150 mph.

While horsepower figures have not been released yet, the company says it comes with a bored-out 5.2-liter version of Ford’s Coyote V-8 and a 3.0 liter Whipple supercharger. PRI exhibitor Aeromotive is helping fuel the new car with its Pro Series fuel pump.

Additional features include a nine-inch solid rear axle, height-adjustable coilovers, an NHRA-certified roll cage and FI-certified racing seats. Only 68 of the commemorative Cobra Jets will be built with a choice of two color options: Race Red or Oxford White. The price is set at $130,000.